Singapore Expats Forum

Whos here interested in starting ur own business?

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
User avatar
durain
Director
Director
Posts: 3666
Joined: Thu, 23 Aug 2007
Location: Location: Location: Location:

Postby durain » Fri, 02 May 2008 11:01 pm

the money is in the durian vinegar juice!

PMR
Newbie
Newbie
Posts: 8
Joined: Tue, 06 May 2008

Postby PMR » Tue, 06 May 2008 3:07 pm

anyone interested in setting up a business, can contact me :D

User avatar
ksl
Governor
Governor
Posts: 6005
Joined: Mon, 19 Jul 2004
Location: Singapore
Contact:

Re: RE: Whos here interested in starting ur own business?

Postby ksl » Tue, 06 May 2008 9:06 pm

devil5791 wrote:Yup, Alot of ideas but not much capital.

1) Got the funds to open a pub but now thanks to the IMF thingy, puds and discos are raided by police almost every week! Well have to post pone that idea...

2) Actually got a good business plan opening a distribution company (beverage). Even one of the director from the parent company flew down to discuss, which he loved our business plan! But not enough capital.... need at least USD$400k to do it. Sigh.....

Any ideas on what to do???


You can actually build your own distribution from almost nothing, but the will to sell, you don't have to invest any fortune at all, all you need is the confidence to do it, and the will to succeed, by negotiating to work for commission only, knowing the product inside out is important, and what value in terms of benefits is the product offering for its price.

For anyone to invest 400,000 US in the distribution of someone elses beverage brand needs, there head looking at, if it is in someone else brand name.

I can set you up in business, for less than 5000 $ however you have to sell your inventory to survive, so the cleverest thing, is to go out and get the customers first, just invest in samples and target your segment, I know because I've done it more than once.

I am also in the process of looking at my own brand for Europe and in talks with a sales channel, although i will not invest the money until I can know, that I can manage the product in Europe by outsourcing logistics.

I was also offered the sole agency of a German energy drink, at the food exhibition, the samples i was impressed with, I drank them all, and enjoyed them, but my discussion was, what support are you giving me, when it can cost money to list products for sale here in Singapore, so you expect me, to pay my money to list your brand name in Singapore. I don't think that is a good idea, the actual marketing of products, and samples, needs to be discussed, it is more important, than the product itself.

If you want to become a distributor of beverages, then you first need a sales channel, that will take your products, or you buy small and build the account up has you learn...its all about turnover, profits and discounts, the bigger you get, the more weight you have to negotiate with a supplier.

Rome wasn't built in a day, so don't expect your business to break even, right away, it takes time to turn over significant volume, set a reasonable target and aim for it, within a time frame.

Do you have transportation for delivery.

contact-me
Newbie
Newbie
Posts: 12
Joined: Wed, 23 Apr 2008

Postby contact-me » Wed, 07 May 2008 11:51 pm

Well thanks for the info i ll check out the laksa stall soon.

So What business are you offering PMR?

Rayoz
Newbie
Newbie
Posts: 6
Joined: Sat, 10 May 2008

Postby Rayoz » Sat, 10 May 2008 10:32 pm

yOz

I am interested in actually creating an investment partnership like what famous invesotr Buffet did but want to know if there is a license needed for that kind of partnership?

contact-me
Newbie
Newbie
Posts: 12
Joined: Wed, 23 Apr 2008

Postby contact-me » Sun, 25 May 2008 4:31 pm

Rayoz wrote:yOz

I am interested in actually creating an investment partnership like what famous invesotr Buffet did but want to know if there is a license needed for that kind of partnership?


Tell me more about this investment, do you think this can work in singapore?

MikeDirnt
Regular
Regular
Posts: 122
Joined: Sun, 27 Jan 2008

Postby MikeDirnt » Fri, 30 May 2008 8:00 pm

contact-me wrote:
Rayoz wrote:yOz

I am interested in actually creating an investment partnership like what famous invesotr Buffet did but want to know if there is a license needed for that kind of partnership?


Tell me more about this investment, do you think this can work in singapore?

forget about this guy. he went all over the forum asking for partnership and none are interested due to licensing issue, his qualification, experience, age, etc.
Guides and information -> Singapore Stocks

contact-me
Newbie
Newbie
Posts: 12
Joined: Wed, 23 Apr 2008

Postby contact-me » Sat, 31 May 2008 8:55 am

MikeDirnt wrote:
contact-me wrote:
Rayoz wrote:yOz

I am interested in actually creating an investment partnership like what famous invesotr Buffet did but want to know if there is a license needed for that kind of partnership?


Tell me more about this investment, do you think this can work in singapore?

forget about this guy. he went all over the forum asking for partnership and none are interested due to licensing issue, his qualification, experience, age, etc.


Whoa..thanks for letting me know mike. Appreciate that.

Jonathan_lwl
Newbie
Newbie
Posts: 1
Joined: Mon, 02 Jun 2008

Postby Jonathan_lwl » Tue, 03 Jun 2008 3:24 pm

Jonathon,

Can you not read the big orange 'advertisements will be deleted'? I have already deleted your posts. Stop advertising, use the classifieds or I will block and lock your account. OK?

Moderator

MikeDirnt
Regular
Regular
Posts: 122
Joined: Sun, 27 Jan 2008

Postby MikeDirnt » Wed, 04 Jun 2008 11:45 am

so you signed up again just to post the message? :roll:
Guides and information -> Singapore Stocks

braveheart77
Newbie
Newbie
Posts: 2
Joined: Fri, 20 Jun 2008
Location: Singapore

Online Shoe and Bag Business?

Postby braveheart77 » Sun, 29 Jun 2008 4:56 pm

Hi All,

This is the first post I make in this forum and it's about setting up business. I have enjoyed reading all the posts in this forum (especially ksl's) and got a lot of education out of it.

I have been a social worker all my life and I'm quite tired of being one recently. My wife is also a social worker and we are now really thinking of doing some business and make good use of the profit to help communities. Sometimes, the best way to help is to go "upstream". Ideally, a social enterprise will be my dream...

We have been toying around with some ideas like a ladies' shoe and bags business. Our experience is telling us that there is potential here but we are newbies in the mechanics of it. We do have a lot of ideas but it'll be too long to talk about it here.

To be honest, we need help from people who are experienced.I cannot PM as I just got registered. I'm actually quite serious about the business as I'm intending to travel to a few trade fairs in Oct to source for suppliers soon. We are wondering if we should go online or traditional store. Any sense? I love to read ksl's posts and comments and it'll be great if you could email me at jimlim77@gmail.com. I read that you provide free consultation for start-ups and I'm taking up the offer....:)

Thanks for putting up with this post. I have so much energy developing this business thing that I'm sleeping only 4-5 hours a day...:)

User avatar
ksl
Governor
Governor
Posts: 6005
Joined: Mon, 19 Jul 2004
Location: Singapore
Contact:

Postby ksl » Sun, 29 Jun 2008 5:58 pm

One thing that sticks out in my mind is the Charles & Keith Brand of shoes & hand bags.

http://www.charleskeith.com/history.php

Before going any further, I would contact them, they donate also to the community I believe.

Have a chat with them and discuss opportunities. There is no doubt, they are making headway in the industry, and the brand image is pretty damn popular. :wink:

braveheart77
Newbie
Newbie
Posts: 2
Joined: Fri, 20 Jun 2008
Location: Singapore

Postby braveheart77 » Sun, 29 Jun 2008 8:17 pm

Charles and Keith are giants in this industry. What do you mean when you say discuss opportunities? We were thinking of differentiating our products differently from them(ie not focusing on dress and formal shoes). But if we were to go online, our clients will probably be out of Singapore. Not very convenient to reveal too much of my plans here..:)

User avatar
ksl
Governor
Governor
Posts: 6005
Joined: Mon, 19 Jul 2004
Location: Singapore
Contact:

Postby ksl » Sun, 29 Jun 2008 9:16 pm

braveheart77 wrote:Charles and Keith are giants in this industry. What do you mean when you say discuss opportunities? We were thinking of differentiating our products differently from them(ie not focusing on dress and formal shoes). But if we were to go online, our clients will probably be out of Singapore. Not very convenient to reveal too much of my plans here..:)


Ok, that's also a good idea, although, you still need to gather as much information as possible, ensure that your suppliers products are of a quality you are satisfied with, and that you have a satisfactory RMA policy, set up, with them, detail your plans, so that you can monitor the progress, for internet sales, you also need to negotiate a descent discount with your logistics provider, be it singpost or DHL, you are providing them with more business.

Take your time with the plans and if branding, ensure your reputation doesn't become tarnished with poor quality, when choosing a website, choose a name that people will search under, not a general company name, unless it fits, your objectives online, so the most popular words, that will bring people to your website, need to be chosen.

If branding, then use the branding name on the website, it will take a long time to brand, but also ensure, you secure the brand name domain too if possible, so that you can actually have two website running, when you have become popular. It is possible you may work with more than one brand name, that is up to you and your planning.

When you think you are ready, PM me and I'll spar with you, so that you get some food for thought.

There are a few ways to approach this kind of business, whereby the manufacturer and supplier can be approached, for support if the goods are from one supplier that is, you may want to offer the supplier co branding opportunity, a joint venture, to share the costs of marketing, its in everyone interest, but only when you are satisfied with product quality.

If you can afford to do it alone, all well and good, but a number of suppliers maybe required, otherwise, you may become too dependant on one supplier, which is not a good thing, unless you have common goals, in which case co-branding maybe better.

ahdam14
Newbie
Newbie
Posts: 4
Joined: Wed, 02 Jul 2008
Location: Singapore
Contact:

Postby ahdam14 » Wed, 02 Jul 2008 9:23 pm

" but a number of suppliers maybe required, otherwise, you may become too dependant on one supplier, which is not a good thing, unless you have common goals, in which case co-branding maybe better. " by ksl

good advice there.. its good to have more choices & back up for instant as doing business, there's always risk & situation may any time turn bad.


  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 0 guests